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Fredriksen-company pulled down Oslo Stock Exchange

Drilling rig company Seadrill noted the biggest slide on the Oslo Stock Exchange in 2015, as the John Fredriksen-controlled company lost more than USD 3 billion in market value.

Photo: Richard Drew/AP/POLFOTO/arkiv

The oil price put a considerable damper on share price developments on the Oslo Stock Exchange in 2015. The main index did increase by 5.6 percent overall in the past year, reports the Oslo Stock Exchange, but the energy shares - led by the Fredriksen-controlled drilling unit Seadrill in particular, the former jewel of the Norwegian-Cypriot shipping magnate's business empire - pulled the exchange down big-time.

The Seadrill share lost further ground in the final days of the year, and the share has tumbled more than 60 percent overall this year, corresponding to a loss in market value of more than USD 3 billion, according to Norwegian business daily Dagens Næringsliv, which awards the Norwegian-born shipowner, oil tycoon and fish farmer John Fredriksen (via Marine Harvest) the title as the top destroyer of shareholder values on the Oslo Stock Exchange in 2015.

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